The world is changing every single day, and many people want to succeed in life more than ever but to do this we need to learn from the success of others.Before you enter into business, here are some of the advantages that will make your business succeed;
1. Geographical advantage: This is if your business or production facility is close to the market. For example, if you are a musician a good place to be in Los Angeles because it’s a place with many clubs and a high population.
2. Advantage of technology: Use technology to advertise your business and even sell off the goods and services you offer.
3. Legal advantage: This is if you live in a country where the laws protect your industry or business.
4. Capital advantage: If you have access to more capital than your competitors.
5. Cheap labor in the country where you are located.
Many countries have come up with many ways to make their citizens succeed by the removal of worldwide industry protection, international deregulation, the opening of trade borders, cheap access to the internet thus you can sell and advertise your goods and services, easy access to finances, small companies competing effectively with large companies and privatization of diverse industries.
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